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Not new to the energy sector, the digital twin concept has been slowly making its foray into asset management for the CPG sector. Powered by AI and cloud technology, digital twins leverage digital data generated by various assets to enable proactive asset monitoring and maintenance and lower asset management costs.
billion in 2020 and is anticipated to increase at a compound annual growth rate (CAGR) of 26% between 2021 and 2028. Companies make use of the RFID tags across plants and warehouses to give managers real-time access to the information regarding the flow of materials. Smart Manage your Assets with Digital Twins.
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